2) Set up a HELOC to cover the cost?

Everything went really well except for the fact that they sold the loan to a hedge fund before closing and the hedge fund's fees were added to the loanguys fees and it all added up quite a bit so I changed my mind at the closing table and used a private lender that is friends with the closing attorney. 

Thanks Peter,  Currently we use follow up boss. 

You can have an email for each account and you should be able to set your phone up see multiple accounts at once should you get inquiries or messages.Just log into each account to make updates and price changes.

Vs in cash out; your payment will be fixed. 3) LTVs => HELOC LTV for Rentals go up to 70% usually.

@Kiryl Ulanovich,You're on the right track:Get Pre-Approval from Hard Money Lender – Know your terms and limits upfront.Find a Deal Through a Wholesaler – Verify numbers and ensure it meets your criteria.Review the Assignment of Contract – Confirm terms, earnest money, and contingencies.Conduct Due Diligence – This includes an inspection (if allowed), verifying ARV, and rehab estimates.Submit to Hard Money Lender for Final Approval – Lender will review title, contract, and property condition.Title Search & Clear Any Issues – Ensure a clean title before closing.Close Through Title Company – Finalize funding and take ownership.Consider also lining up contractors early for a smooth transition into renovations.

Options - collect full payment for the 3 months up front and lower the deposit to secure against damages only, require insurance.

After the inspection, we sent a request with a mortgage contingency date extension (because it was also difficult to schedule this with the agent), a credit for termite treatment and an extension for the closing date which would allow one of the current tenants to move out at the end of this month (when their lease is up) before closing.

If your home is newer, requires little maintenance, and doesn't experience a vacancy for at least 12 months, your $300 cash flow can build up a tidy reserve to get you through.

What's up, brother!